2024-01-18 17:08:15
HoonSmart.com>>”Thai Eastern Group Holdings” (TEGH) expects better profits in 2024 with 3 strong business legs. Main income from natural rubber Additional Margin Expand the premium market to accept EU law and receive carbon credits. As for the palm business, there was no loss like last year. Energy business generates outstanding profits
Mr. Wongkrit Jiamsripong, Chief Corporate Strategy Officer of Thai Eastern Group Holdings (TEGH), revealed that the operating performance trend in 2024 will grow significantly, with all 3 businesses improving. Starting with the core business Most of the natural rubber comes from rubber blocks, which account for about 80% of the revenue. Selling prices have recovered, making the margin better from last year’s level of about 2 baht, increasing to 3 baht, and customer demand is growing.
In addition, the company places importance on sustainability. The company expands the market in line with the EU Deforestation Regulation (EUDR) which will receive a higher margin than normal rubber. It is expected to see orders come in within the second half of the year. Including increasing opportunities from carbon credits.
The business segment produces and sells crude palm oil. The revenue proportion of approximately 20% this year will turn profitable. Operate the production machine as normal. From last year’s loss from shutdown of machinery maintenance
Regarding renewable energy and organic waste management businesses, growth has been outstanding. Income proportion 1% while being able to create high profits. Biogas production expansion project, Zone 3, Phase 1, has begun to gradually increase production. and will start to recognize income from the first quarter onwards and also sees an opportunity to expand biogas production capacity in the future and is in the process of bidding for a new round of industrial waste power plants.
During the 9 months of 2023, the company had a net profit of 146 million baht, a decrease from the same period last year that had a net profit of 521 million baht, while for the entire year 2022 there was a total profit.
683.96 million baht, growing than 2021 with a net profit of 562.51 million baht.
As for the TEGH stock price, it closed at 3 baht plus 0.02 baht on 18 Jan. 2024.
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